U.S. stocks opened higher on Wednesday as a rally in Microsoft Corp. MSFT shares helped to boost the Nasdaq Composite. However, further declines in shares of First Republic Bank FRC following its Monday earnings report were seen as a cause for concern. The S&P 500 SPX gained 8.5 points, or 0.2%, to 4,080. The Nasdaq Composite COMP rose by 93 points, or 0.8%, to 11,892, after finishing Tuesday’s session at its lowest closing level in nearly a month. The Dow Jones Industrial Average DJIA gained 88 points, or 0.3%, to 33,618.
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